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Carlyle, Unison Capital look to sell Covalent Materials

2 May 2014

tokyo 11_sqPrivate equity firms Carlyle and Unison Capital are reportedly looking to exit semiconductor parts maker Covalent Materials Corp.

Carlyle and Unison are preparing an auction for the Tokyo-based company, looking to sell its for around JPY50bn ($489m), said Bloomberg, citing two people with knowledge of the matter.

The two firms, which acquired the company in a take-private deal in 2006, are aiming to complete the sale by the end of the year, said the people.

Earlier this year it was reported that Carlyle had raised JPY45bn ($436m) for its third Japan-focused buyout fund.

Carlyle Japan Partners III has a final target of JPY100bn ($980m), and follows the firm’s predecessor vehicle which raised JPY165.6bn in 2006.

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